Albertsons CEO to retire; company puts succession plan into place

A change of leadership is set to take place at one of Idaho’s most well-known companies.

On March 3, Albertsons Companies, Inc., based in Boise, announced that current CEO Vivek Sankaran would retire on May 1, 2025, and current Executive Vice President Susan Morris, who also serves as chief operating officer of the company, would become the new CEO.

Jim Donald, who chairs the company’s board of directors, said the board has been working on a succession plan by evaluating internal and external candidates for the position.

“The Board is confident that Susan is the ideal person to lead the company into its next chapter of growth,” Donald said in a statement. “With a nearly 40-year career at the company that began at an Albertsons store in the Denver market, Susan brings unmatched expertise and deep knowledge of the business. She is highly respected across the organization and industry, with a strong track record of operational success and passion for serving our customers and communities.”

Morris has been Albertsons’ executive vice president and COO since January of 2018, and has been overseeing retail operations for more than 2,200 stores throughout 34 states. She also serves on the boards of IDACORP, Inc., and the Food Marketing Institute.

“I have worked closely with Vivek and the leadership team on our plans to accelerate growth and am confident that we are on the right path with our Customers for Life strategy,” Morris said. “I look forward to participating in the fiscal Q4 earnings call where we will discuss our strategy and provide our fiscal 2025 outlook.”

Sankaran expressed confidence in his successor’s abilities to lead the company as he prepares to exit in the next two months.

“It has been a privilege to lead Albertsons Cos. through a critical period of evolution and I couldn’t be more confident in the company’s future with Susan at the helm,” he said. “Susan embodies the best of Albertsons Cos.’ culture, with a strong track record of leading and building high-performance teams. I have no doubt in her ability to usher in a new phase of growth and improve our value proposition with customers and the communities where we operate.”

It’s an outlook Morris echoed.

“Albertsons Cos. has an incredibly bright future and the best team in the business ― I am energized about the many opportunities that lie ahead,” she said.